nancy pelosi rejected the plan as a gimmick. she's correct. this gimmick is the only thing republicans have up their sleeves right now. john boehner told everyone two years ago the country would not default on its debt. >> do you agree with administration officials and other economists that defaulting on the full faith and credit of the united states would be a financial disaster? >> that would be a financial disaster, not only for our country, but for the worldwide economy. >> and president obama reminded congress the economic damage done by playing games with the debt limit. >> the last time republicans in congress even flirted with this idea, our aaa credit rating was downgraded for the first time in our history. our businesses created the fewest jobs of any month in nearly the past three years and, ironically, the whole fiasco actually added to the deficit. >> republicans basically had no choice but to retreat from their hard line position, negotiating with the american people. if the country defaulted, they would be responsible for a glob